Question
A substitution elimination recognises consolidation goodwill of $60 000 at control date 1 January 20X2. Goodwill impairment recognised in the following year is below: Required:
A substitution elimination recognises consolidation goodwill of $60 000 at control date 1 January 20X2. Goodwill impairment recognised in the following year is below:
Required:
- a)Record the eliminations for goodwill and its impairment at 31 December 20X2, 20X3 and 20X4 into general journal. (6 marks)
- b)Record the eliminations of the goodwill and its impairment, if any, that are necessary 10 years after the control date, assuming no further impairment has been recognized. (4 marks)
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Advanced Financial Accounting
Authors: Richard Baker, Theodore Christensen, David Cottrell
9th edition
78110920, 978-0077899165, 77899164, 978-0077484255, 77484258, 978-0078110924
